Metered Access

Crain's Detroit Business is a metered site. Print and digital subscribers have unlimited access to stories, but registered users are limited to eight stories every 30 days. After viewing three metered stories, you'll be asked to register or log in. After eight more stories in 30 days, you'll be asked to subscribe.

State board OKs tax capture for redevelopment of part of Macomb Mall

Photo by Crain's Detroit Business
Macomb Mall will soon add a Dick's Sporting Goods to its list of retail tenants

The Michigan Strategic Fund today approved a tax capture that will help with the redevelopment of part of Macomb Mall in Roseville.

Lormax Stern Development Co. had previously received approval from the Roseville City Council to demolish the 127,000-square-foot former Value City store.

In its place, a new 50,200-square-foot Dick’s Sporting Goods store is being built; construction on that store has begun.

The state board today approved a request from the Macomb County Brownfield Redevelopment Authority for local and school tax capture for the project totaling $1.6 million.

According to a briefing memo, the captured taxes will be used to redevelop two acres of the site located at 32233, 32385 and 32455 Gratiot Ave. in Roseville.

Phase one is the Dick’s Sporting Goods building. Phase two, which could occur this year or in 2015, according to the memo, would rehabilitate and rebuild certain sections of the mall property. The rehabilitation will include demolition and asbestos abatement.

In total, the capital investment is estimated to be $8.4 million and will result in 295 full-time equivalent jobs with an average hourly wage of $11.

Lormax Stern also has applied for a 10-year commercial rehabilitation act property tax abatement from the city, which would save the company about $800,000, according to the memo. The act allowing for the abatement was created by the city for Lormax Stern, the memo said.